Real Borrower Story: Edna & Marvin Marcum

When seventy-one year old Edna Marcum relaxes outside on her back deck and looks out across the two acres of lush greenery that comprises her property, she appreciates every inch of it. And she has every reason to, especially now that the entire place is paid off.

“I grew up learning that if you can’t pay for it, then don’t buy it. And it has served me well,” she shares. She and her husband Marvin make a point to live within their means, only buy things that they can afford, and find ways to get great perks, like the all-expense-paid cruise they won a few months ago. So with a track record such as this, one may wonder why they would decide to close a reverse mortgage on their beautiful home in Athens, Georgia.

“I wanted that extra little bit of financial security for my age. I was getting very close to being financially tapped out, and this occurred only because I didn’t owe anybody any money.” Edna explains. “I didn’t have any credit card debt. Zero. We’ve been in this house 7 ½ years, and we were getting to the age and the point where I wanted our house paid off too. So we paid off the mortgage and we saved about $144,000. But because we made the decision to pay the mortgage off early, it really tapped our available funds.”

Edna had heard about reverse mortgages from television commercials over the last three years, and realized it was an option to really look into. “I called about a reverse mortgage for peace of mind, and to fill my money chest a little bit more. You never know when the roof is going to cave in, so to speak, and I really want the money there to be able to take care of those things when they need to be taken care of. I like peace of mind.”

Every year, seniors across the nation are recognizing the benefits of using a reverse mortgage to strategize and plan their retirement. The idea that it should be used not as a last resort but as a useful tool to take advantage of has evolved into common practice. For Edna and Marvin, the advantages of a reverse mortgage for their situation made complete sense.

“I had been thinking about a reverse mortgage seriously for 4 months now,” Edna says. “It was the whole package that I trusted, really, because a reverse mortgage is backed by the federal government. I called American Advisors Group, and it was my enormous good luck in getting my reverse mortgage professional Mike Diedrich.”

When potential borrowers call American Advisors Group, they are paired with a knowledgeable reverse mortgage professional who uses their expertise to guide borrowers through every step of the reverse mortgage process. For Edna, she cannot give her reverse mortgage professional, Michael, enough credit and praise.

“It was my most lucky day when Mike answered my phone call. I just like him so much,” she gushes. “Michael and I have the same sort of sense of humor and we just hit it off in the very first five minutes. He just really stayed on top of every little thing which was just extraordinary. He took care of everything in a very timely fashion with a very kind, understanding, and professional demeanor. I felt confident that this was going to go well because Mike was going to see to it. I was just pleased with everything every step of the way, and again, Mike is responsible for that. It was a most pleasant, successful, legal, and monetary transaction.”

One of the first plans that Edna and Marvin have for their funds is to repaint their back deck. “The deck had to be painted to keep this house in good shape. Decks need professional care at least every two years to keep them going. This morning a man came to spray wash my deck, and he’s coming back to apply a forever-paint, which is guaranteed for life. Then I don’t have to ever give any concerns to the deck’s maintenance again. And this reverse mortgage allowed me to do that.”

Edna Marcum is eager to share advice with potential borrowers. “Whatever the need for a reverse mortgage,” she advises, “American Advisors Group will handle your transaction in a timely, professional, and friendly manner. Your contact person will take very good care of you, will settle any fears, can answer all your questions, and is always there to help you. They know the answer to everything. I am a very happy camper having gone through this process. Everything from the moment we first spoke until I received the funds went smoothly, went on schedule, and I just could not be happier.”